2025-057 Insurance Adviser for OFTO TR13

Award outcome

Description

Ofgem is required to run a tender exercise for all offshore transmission (OFTO) projects that qualify under the OFTO Tender Regulations 2015. The next offshore tender round - Tender Round 13 (TR13) - Ofgem is launching in September 2025. Provision of insurance consultancy support services will be crucial to ensuring that a robust tender process takes place for TR13 and without this, Ofgem will be unable to run an effective tender process for this tender round. To facilitate a robust tender evaluation process, Ofgem requires the services of the supplier on various aspects of the tender and transaction process. The supplier will provide insurance advice and support to Ofgem to ensure that the necessary insurance requirements that Offshore Electricity Transmission bidders are required to meet are reflected in the design and content of tender questionnaire criteria and documentation, are robustly evaluated in bidder submissions, and any insurance matters are managed and dealt with appropriately. The primary responsibility of the supplier will be to advise and assist Ofgem in evaluating the insurance related aspects of bid submissions to ensure that the appropriate bidder can be appointed successfully. This will include advice on the suitability of the bidders' insurance strategies and associated financial and commercial arrangements; and assessment of prevailing insurance market conditions and wider market conditions which may be comparable. Support from the supplier with preparatory work in advance of TR13, up to and including the appointment of Preferred Bidders (PB) for each project (with the possibility of some work required for enabling Licence Grant (LG) and Financial Close (FC)) is expected.

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